Commerce Minister Calls for Macro-Strategy to Boost Exports

The Basic Chemicals, Cosmetics & Dyes Export Promotion Council (Chemexcil), set up by the Ministry of Commerce & Industry, Government of India, organised its 46th annual export awards function in Mumbai on April 21.

The council recognised excellence in export performance for 2016-17 by giving away awards and merit certificates to 73 exporters besides two ‘Lifetime Achievement’ awards. Top export performers included Reliance Industries, Neelikon, Godrej Industries, Aarti Industries, UPL, Indo-Amines, Galaxy Surfactants, Jubiliant Lifesciences, Pon Pure Chemical India, among others.

Mr. Ashwin Shroff, CMD, Excel Industries Ltd. and Mr. Jayant Patel, CMD, Meghmani Organics Ltd. were felicitated with ‘Lifetime Achievement’ awards.

The event was attended by Mr. Suresh Prabhu, Union Minister for Commerce & Industry and Civil Aviation and Mr. Shyamal Misra, Jt. Secretary, Ministry of Commerce & Industry.

Applauding the contribution of Indian chemical exporters, Mr. Prabhu said, “The country’s chemical sector has huge growth potential and it needs to create a capacity to meet exports demand. I understand, the chemical sector is expected to grow more than double and touch $300-bn by 2025 from $147-bn now. On part of the Government, let me assure you that we will provide an enabling environment to the industry to increase exports.”

He pointed out that export promotion councils such as Chemexcil could act as think-tanks in developing a macro strategy to help increase exports. “With competition increasing, we have to formulate a clear roadmap and the ministry is willing to act as a facilitator,” he added.

Resolving GST issues

As Guardian Minister for the chemicals industries, Mr. Prabhu added that he was happy to help resolve GST related issues. “I urge the industry constituents to appeal to the State Chief Ministers as States have greater representation in GST Council. We are soon starting a portal with the help of multiple relevant agencies where all issues related to foreign trade transactions will be addressed in order to improve efficiencies.”

Mr. Misra informed that the government had unveiled several new schemes and is committed to help increase exports. “There is a lot of potential in agrochemicals and speciality chemicals and we have to enhance our global market share therein,” he said.

Mr. Satish Wagh, Chairman, Chemexcil, observed that in 2016-17, export by Chemexcil members was reported at $12.15-bn – an increase of 4% in value terms over previous year exports of $11.68-bn.